Japan Exchange Group (8697) investor relations material

Executive summary

• Operating revenue rose 22.5% year-over-year to JPY 198,735 million, driven by a vibrant Japanese stock market and increased clearing and trading services revenue.

• Net income attributable to owners increased 29.5% year-over-year to JPY 79,139 million.

• All revenue categories saw growth, with notable gains in cash equities and clearing services.

• The group implemented a new revenue breakdown aligned with its Medium-Term Management Plan 2027.

Financial highlights

• Operating income increased 29.0% year-over-year to JPY 116,289 million.

• EBITDA reached JPY 135,249 million, up 24.3% year-over-year.

• Trading services revenue grew 20.0% to JPY 77,399 million; clearing services revenue surged 57.5% to JPY 54,242 million.

• Operating expenses increased 11.4% year-over-year to JPY 83,598 million, mainly due to higher personnel and system maintenance costs.

• Cash and cash equivalents at year-end were JPY 110,471 million, up JPY 12,043 million from the previous year.

Outlook and guidance

• FY2027 forecast: operating revenue JPY 205,000 million (+3.2% YoY), operating income JPY 115,000 million, net income attributable to owners JPY 77,500 million, and EPS JPY 75.39.

• Dividend per share forecasted at JPY 61, with a payout ratio of 80.9%.

• Share buyback of up to JPY 20 billion planned, targeting a total return ratio of approximately 106%.